The stock of Mercadolibre Inc (NASDAQ:MELI) is a huge mover today! About 136,750 shares traded hands. Mercadolibre Inc (NASDAQ:MELI) has risen 75.06% since March 3, 2016 and is uptrending. It has outperformed by 66.71% the S&P500.
The move comes after 8 months positive chart setup for the $8.33B company. It was reported on Oct, 6 by Barchart.com. We have $248.40 PT which if reached, will make NASDAQ:MELI worth $2.75B more.
Analysts await Mercadolibre Inc (NASDAQ:MELI) to report earnings on November, 2. They expect $0.75 EPS, 0.00% or $0.00 from last year’s $0.75 per share. MELI’s profit will be $33.45M for 62.26 P/E if the $0.75 EPS becomes a reality. After $0.74 actual EPS reported by Mercadolibre Inc for the previous quarter, Wall Street now forecasts 1.35% EPS growth.
Mercadolibre Inc (NASDAQ:MELI) Ratings Coverage
Out of 7 analysts covering MercadoLibre (NASDAQ:MELI), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. MercadoLibre has been the topic of 12 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, September 28 by Citigroup. Stifel Nicolaus maintained it with “Hold” rating and $180 target price in Thursday, October 6 report. The stock has “Neutral” rating given by Goldman Sachs on Tuesday, August 9. As per Monday, April 25, the company rating was initiated by Cowen & Co. On Monday, March 14 the stock rating was maintained by JP Morgan with “Neutral”. The firm earned “Hold” rating on Wednesday, March 2 by HSBC. JP Morgan upgraded the stock to “Overweight” rating in Friday, September 2 report. JP Morgan maintained Mercadolibre Inc (NASDAQ:MELI) rating on Monday, May 16. JP Morgan has “Neutral” rating and $133 price target. The stock has “Overweight” rating given by Piper Jaffray on Friday, August 5.
According to Zacks Investment Research, “MercadoLibre is the largest online trading platform in Latin America. We are market leaders in e-commerce in each of Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay and Venezuela, based on unique visitors and page views. Additionally, we have recently launched online trading platforms in Costa Rica, the Dominican Republic and Panama. With a market of over Five fifty million people and a region with one of the world’s fastest-growing Internet penetration rates, we provide buyers and sellers a robust online trading environment that fosters the development of a large and growing e-commerce community. We offer a technological and commercial solution that addresses the distinctive cultural and geographic challenges of operating an online trading platform in Latin America.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.41, from 1.41 in 2016Q1. The ratio fall, as 26 funds sold all Mercadolibre Inc shares owned while 66 reduced positions. 35 funds bought stakes while 57 increased positions. They now own 31.31 million shares or 2.81% less from 32.21 million shares in 2016Q1.
Northern Corp has 0% invested in the company for 86,664 shares. Commercial Bank Of Montreal Can accumulated 3,768 shares or 0% of the stock. Nationwide Fund last reported 6,528 shares in the company. Vanguard Gp owns 82,212 shares or 0% of their US portfolio. Brown Management Limited Liability Company last reported 0.05% of its portfolio in the stock. Next Fincl Group has invested 0% of its portfolio in Mercadolibre Inc (NASDAQ:MELI). Point72 Asset Mgmt Ltd Partnership holds 0.14% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 141,200 shares. The United Kingdom-based Legal And General Group Incorporated Public Ltd has invested 0% in Mercadolibre Inc (NASDAQ:MELI). Agf Invests has invested 0.01% of its portfolio in Mercadolibre Inc (NASDAQ:MELI). The Massachusetts-based Zevin Asset Management Limited Liability Com has invested 1.53% in Mercadolibre Inc (NASDAQ:MELI). Ashford Capital Mngmt has invested 0.07% of its portfolio in Mercadolibre Inc (NASDAQ:MELI). Susquehanna Int Llp holds 0% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 38,600 shares. Kayne Anderson Rudnick Inv Mgmt Ltd Liability last reported 0.24% of its portfolio in the stock. Qs Investors Ltd Liability Corp, a New York-based fund reported 3 shares. Finemark Financial Bank last reported 0.01% of its portfolio in the stock.
Insider Transactions: Since August 9, 2016, the stock had 0 insider purchases, and 4 insider sales for $2.25 million net activity. Melamud Marcelo sold $134,650 worth of Mercadolibre Inc (NASDAQ:MELI) on Monday, August 15. Another trade for 3,000 shares valued at $504,810 was sold by Arnt Pedro. SPENCE A MICHAEL also sold $583,115 worth of Mercadolibre Inc (NASDAQ:MELI) on Tuesday, August 9. $1.03M worth of Mercadolibre Inc (NASDAQ:MELI) was sold by Rabinovich Daniel on Friday, August 19.
More notable recent Mercadolibre Inc (NASDAQ:MELI) news were published by: Fool.com which released: “Is Mercadolibre Inc. a Buy?” on April 29, 2016, also Fool.com with their article: “Mercadolibre, Inc. Earnings: Rolling With the Venezuelan Punches” published on August 05, 2016, Fool.com published: “Why MercadoLibre, Inc. Stock Soared 25% in November” on December 12, 2015. More interesting news about Mercadolibre Inc (NASDAQ:MELI) were released by: Fool.com and their article: “Small Cap Low-Risk Pick No. 5: MercadoLibre Inc.” published on April 08, 2016 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: MercadoLibre, Inc., 57.1% Follow-Through Indicator …” with publication date: August 04, 2016.
MELI Company Profile
MercadoLibre, Inc. (MercadoLibre), incorporated on October 15, 1999, hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Firm provides a portfolio of services facilitating e-commerce transactions in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, Uruguay and Venezuela. The Company’s geographic divisions are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America (real estate classifieds in the State of Florida only). It also operates online commerce platforms in the Dominican Republic, Panama, Bolivia, Guatemala, Paraguay and Portugal. The Firm offers its users an eco-system of over six related e-commerce services: the MercadoLibre Marketplace, The MercadoLibre Classifieds Service, the MercadoPago payments solution, the MercadoLibre Advertising program (MercadoClics), the MercadoShops online Webstores solution and the Mercado Envios shipping service. The Firm also operates a real estate classified platform that covers some areas of State of Florida in the United States.